Read the Briefing Note to find out what were the key findings and lessons learned from the 11th Consultative Forum which took place in Lima, Peru on November 6, 2017.

The underlying goal of the Forum was to foster sound policymaking for the development and scaling up of agricultural insurance in Latin America. This was the last of a three-event series organised in 2017 on the topic of agricultural insurance as a tool for disaster resilience in Asia, Africa and Latin America.

The Access to Insurance Initiative (A2ii) and the International Labour Organization (ILO) through its Impact Insurance Facility (IIF) have commissioned this study to assess the impact of microinsurance regulatory frameworks on developingn inclusive insurance markets by way of a Regulatory Impact Assessment.

This Consultative Forum was the second in a three-event series organised in 2017 on the topic of agricultural insurance as a tool for disaster resilience in the three developing regions of Asia, Africa and Latin America. The first event in the series, which took place in Singapore in March 2017, covered both indemnity- and index-based agricultural insurance, whereas this event focused exclusively on index-based agricultural insurance as an innovative tool for agricultural insurance to become more affordable for smallholder farmers.

This paper considers the various regulatory approaches implemented by insurance regulators and supervisors globally in order to achieve the objective of inclusive insurance market development. The primary question that this paper seeks to address is: what is the optimal regulatory approach to be followed by a particular country to promote increased access to insurance in a particular product market or across multiple product markets?

One of the aims of the cross-country synthesis exercise is to gain a better understanding of the dynamics, development and evolution of microinsurance markets. Identifying discrete microinsurance business models allows the roles and incentives of the players involved in the provision of microinsurance to be disaggregated so as to better understand the way that the microinsurance market evolves across countries and to gauge the risks involved.